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The continuation fund is worth $1.7bn and holds assets including a specialty chemical maker, a dental practice management company and a wire and cable producer.
The firm is in market targeting $1.25bn for its fourth secondaries fund and is set to launch a vehicle targeting GP-led deals.
Single-asset deals accounted for 30% of GP-led transactions in the first half, up from 20% in 2019, according to Evercore.
Alpine Investors lifted employment services provider TEAM Services Group out of its 2013-vintage fund in a $362m deal.
The evergreen fund will aim to invest in a mix of secondaries, direct investments and co-investments in credit and equity.
Recycling business Ecore International is the focus of what has been described as 'a hybrid of a single-asset recap and an independent sponsor transaction'.
Record volumes, lots of new entrants and GP-led deals with a little more 'hair on them' are among trends to look out for this year, according to industry leaders.
Celeste Barone
Celeste Barone has been named president and chief client officer of 4Pines Fund Services.
The five largest secondaries funds to hold a final close in 2020 raised more than $60bn combined.
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